• Statistical Series
• 10. September 2013
• Vol 98, Issue 31
• ISSN: 1670-4665



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In 2012, the financial balance of the general government was 65.3 billion ISK in deficit or 3.8% of GDP, which can be compared with a deficit of 5.6% of GDP for 2011. The reduced deficit in 2012 can be explained by 8.7% increase in revenue and 4.4% increase in expenditure. The general government total revenue amounted to 43.6% of GDP in 2012, compared with 41.8% in 2011 and 41.5% in 2010. The general government total expenditure amounted to 47.4% of GDP in 2012 which is equal share as in 2011 to compare with 51.6% in 2010.